Crown Electrokinetics Assessed Intangible Asset Value Worth $94.4 million from Intellectual Property and Trade Secret Valuation 3rd Party Report
Los Angeles, California, April 04, 2022 (GLOBE NEWSWIRE) -- (NASDAQ: CRKN) ("Crown" or the "Company"), a leading smart glass technology company, announced today that the Company received the report from a leading third party intellectual property valuation firm ("IP Professional") providing a valuation of Crown’s intellectual property (IP) and trade secrets that underlie Crown’s technology.
Crown’s electrokinetic film technology can be applied to multiple product categories, including applications within the commercial building, residential home, and transportation industries. This IP valuation, however, specifically analyzed Crown’s technology as deployed in the US-office building market only. If Crown were to assess its IP value in other product categories, or in other geographic markets, Crown’s IP value would be even greater than $94.4 million.
In April of 2015, Hewlett Packard sold certain assets which became the basis of creating Crown Electrokinetics, including its initial intellectual property. The Company has continued to increase its patent and trade secrets assets, by inventing and developing technologies and processes and in certain cases acquiring IP in the open market.
The IP assets that were valued consist of Crown’s patents, associated trade secrets and know how. The valuation conclusions in the private report are based on accepted practices using factual analysis, IP analysis, fair market value (FMV) and investment value (IV) standards. The third-party valuation firm utilized data provided by Crown, along with public information and industry knowledge of intellectual property licensing. In addition, the IP Professional reviewed the historical costs as well as expected future revenue as it relates to the assets.
Crown’s IP valuation indicated a combined patent and trade secret fair market value (FMV) of $94.4 Million. The deployment of Crown’s DynamicTint™ into multiple clients will be a critical milestone in achieving the Company goals for IP adoption.
Crown CEO, Mr. Doug Croxall, has commented, "The third-party IP valuation report re-affirms to our shareholders the substantial value of the company's underlying assets and intellectual property rights. Our commercial opportunity is supported by volumes of data and should provide a commercial viability to financial parties to advance. All Crown employees look forward to realizing the value of our IP as well as continue innovating additional IP that will continue to create shareholder value."
About Crown Electrokinetics
Crown is a smart glass technology company and the creator of DynamicTint™ We Make Your Glass Smarter™. Originally invented by Hewlett-Packard (HP, Inc.), our technology allows any glass surface to transition between clear and dark in seconds. With applications to a wide array of windows, including commercial buildings, automotive sunroofs, and residential skylights, we partner with leading glass and film manufacturers for mass production and distribution. At the core of our technology is a thin film that is powered by electrically charged pigment which not only replaces common window tints but is also a more sustainable alternative to traditional window treatments. With its unique ability to be retrofitted to existing glass, DynamicTint™ offers myriad benefits related to reducing carbon emissions. The company is supported by a robust patent portfolio.
Safe Harbor Statement: Statements in this news release may be "forward-looking statements". Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions, or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Crown Electrokinetic Corporation undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
This press release does not constitute a public offer of any securities for sale. Any securities offered privately will not be or have not been registered under the Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
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